Under the Patronage of
Vice-President and Prime Minister of the UAE and Ruler of Dubai
As a Forbes 30 Under 30, Kauffman Fellows, Founding Managing Partner at Shorooq Partners, Shane spearheads Shorooq Partners. Shorooq is a leading Seed Stage VC in the Middle East, North Africa and Turkey. Shane has built his career as an investment professional, investment banker and entrepreneur in the US. He used to work at UBS, TD Securities, Lazard Freres & Co., Alpine Investors and GlobalFoundries – wholly owned subsidiary by Mubadala Investment Company, $250bn Abu Dhabi sovereign wealth fund. Shane concentrated in Finance and Mandarin at The Wharton School at the University of Pennsylvania, graduating with Summa Cum Laude, Joseph Wharton Scholar and Benjamin Franklin Scholar Honors. Shane is born and grew up in South Korea and has studied and worked in the US, Canada and China prior to settling down in UAE. Having played the piano and clarinet for 15+ years, he has a strong passion for music and community service and performed in many musical concerts.
14:00 - 15:30
SME Pillar Session 1 - Financing SMEs in the Digital Era
Small and medium enterprises (SMEs) account for over 90% of firms worldwide. They are the most significant contributors to employment and generate the majority of jobs in developing economies. SMEs are also a substantial contributor to overall value-added in these economies.
However, SMEs face greater financing obstacles than larger firms—they enjoy less access to external finance and face higher transactions costs and higher risk premiums. Almost 70% of SMEs do not use external financing from financial institutions, and another 15% are underfinanced. The total credit required to finance these SMEs fully is over $2 trillion, equivalent to 14% of total developing economy GDP.
The session will discuss how to finance SMEs in this digital era and what challenges are.